Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes. This may stop some of the rot. I clicked the RNS link very nervously and was surprised to actually read some positivity even though the jist is that Gal is funding its own life support whilst the blasting problem is resolved.
How long might this take ? Why cannot this be resolved quickly and a deal struck with the council ?
Wow, far, far better tone here, and confirmation of ongoing activity. Should help the SP. I'm happier than I have been for a while.
https://www.pressreader.com/uk/the-guardian/20200103/281633897161307
Safety reasons... Are they referring to to the explosives escort, or the tunnel roofing?
"Scotgold Resources is eyeing up other potentially significant gold deposits elsewhere in the Highlands, which lie in the Dalradian rock formation that stretches across Scotland to Northern Ireland. It feeds an opencast goldmine in Co Tyrone, where production has been halted for safety reasons."
Fairly new investor to GAL. I LOVE the current price for getting in. One thing that keeps me adding to GAL was Ross Beaty's interview referencing being 'stuck with' GAL. Why would he pump it up for those looking to get in short. Smart guy.
Earlier in the interview he reviews his personal criteria for investing.
Longview, Market Cap, Commodity price, stock cycle.
HE said, "You want to get in at the lower part of the cycle and get out at the higher part of the cycle."
It makes sense to shake loose the easily sold shares. Smart investing is to buy when everyone else is selling.
I love the 5yr chart on GAL.
That's my thinking as well. Again I am not bashing and I am trying to be optimistic. My only fear here is (I have seen it with other stocks) dilution after a reverse split. The insiders will most likely take part in the new offerings and we continue to get diluted further. Other than that, I also can't see them not furthering this with so much skin in the game. I guess time will tell and I hope it will be in our favour .
Yes, I know what you mean. Something always did smell fishy about the prior RNS and maybe the latest one gives us a glimpse of manoeuvrings behind the scenes. I'm holding as I can't believe the project will be binned. Also with other major share holdings (including Roland and Ross), we won't get screwed completely on this.
haha, I'm with you on the RNS cringe.
Seems your view the Melquart controlling stake as a positive. Any idea how that would work?
Since the notorious RNS I've been baffled why GAL hasn't been snapped up. Roland said he's now looking to sell, but how could he if Melquart are in control? It does feel like something is going on behind the scenes but I can't figure out exactly what.
Originally I invested here for the value, good management and the fact that Ross Beatty was invested here. I thought it was also in a good jurisdiction . More so that insiders had a lot of skin here. I have what I consider a very sizeable position in GAL (Have reduced considerably since latest PR). I find frustrating the lack of substance in the previous press releases. I still don't have a grasp at what it's costing us to get the gold out. I feel the PRs have been very vague to say the least. My communications with Roland have been positive in the past (He saidshareholder value would come but I am not so sure now) and upbeat. Looking at previous news releases; how can this company turn 360 degrees to this situation when all previous NRs were positive (Reaching levels, ahead of schedule etc...). I mean there should of been some warnings / guidance leading up to this. From reaching levels to shutting down; there is a big gap missing here for me at least. RB said in a video Dalradian were not going to buy GAL. When was this common knowledge? Should there have been some press release to that effect. I was averaging down; should I have known this info, I would not have bought more. I like the prospect and hope they turn it around however with this RS and further requirement to raise funds down the line; I am worried we will be severely diluted going forward. Am I wrong? I am not bashing as I have a significant position here and a considerable loss (Over 100k) but I knew the risks going in. At the end of the day I am responsible for my own actions. I really misjudged this one. I hope things get better for us. May take some time here. I don't know.
Hi LB, Melquart are on companies house. They are a private investment company comprising of two family individuals with circa £38m in investments. It is interesting that they will now have a controlling stake, for a long time there have been others that have had a larger shareholding than Roland but never a controlling stake. I must admit every time I see an RNS from Roland I now cringe - I am not sure if he sits there and says to himself " I have something to say, how can I make it sound really boring and negative" and we then have to suffer the effects on the SP. With Melquart having a controlling interest they will now be in a position to do something about it and since they have a good sum invested they have a vested interest in doing so.
Hmm, I note Melquart required a share consolidation to back up their conversion price. They stand a good chance of gaining control of the company. Not sure if this is a good or bad thing. Anyone?
Anyways, my search on Melquart came up blanks. Only hit was on Melqart. Any info out there?
So within a 14 miles of an area within Co.Tyrone there are potentially two goldmines up for sale/looking for joint venture. One with planning permission, one without, both without adequate resource to cover explosives escort- even if there was resource, the costs have not been budgeted into the operations- bringing the basic profitability into question.
Both companies are running on 'empty' right now, and the big worry is that other parties will not be interested in the hassle, then what?
In almost every case, when a company is insolvent (cannot pay its current liabilities) and goes into administration/bankruptcy, the existing shareholders will be wiped out. If the company is liquidated/wound up, then shareholders are the last in line to be paid.
As the investors in Dragons Den say, "Sorry I'm out folks"
DAL are an exploration company anyway, this was always a part of their plan, but the future is a lot more bleak for GAL.
Not sure LK505, but really seems that we cant really rely on your anti mining information. I think you should get a job.
Anyone know if there is any truth in the rumour that all of the Galantas staff at Omagh, bar three admin staff were let go on 19th November? Also did they sign non-disclosure agreements about the operation? Is that even allowed?
Listened to this, this weekend....
https://m.youtube.com/watch?v=r8RmHLISkb4
From 39.30. Ross Beatty current view on gal, not exactly positive i have to say.
I personally remain of the opinion, good value is to be had currently.
Not being purposefully negative, not my style, but it's not common to get such a broadcast opinion on gal (just so happens to be at an extreme sp low), so just posting for info.
He says he bought in as he thought dalradian would buy gal but that didn't happen and his investment thesis no longer exists.
Dalradian arent going to buy it because they were bought out by Orion.
Coincidentally? On the very same day as the completion of the Orion buy out hit the news, a gal rns of a proposed private placement, in which Ross Beaty participated which completed 26/09/19 at 4.2p he added 2380952 shares for ~120k.
Rns 26/09/18 - Mr. Ross Beaty ("Beaty") has subscribed for 2,380,952 Common Shares, which, in addition to the shares he already holds, gives rise to an 17.9% holding.
His thesis was proved wrong yet he added more?
https://www.proactiveinvestors.co.uk/companies/news/303997/galantas-gold-boss-welcomes-ross-beatys-backing-3997.html
From 1.00m
July 2015 he paid premium to market price in 2015 for 16m shares with 1 year warrant attached.
Maybe I'm missing something/reading to much into things, just observations (of coincidentally timed events) in any case, certainly no insinuations meant.
On a more positive note 1st link from 17.25 to 21.00 mins.
Aimo GLA
We just need to let this one play out. The spread is at 40% which says to me the MM's are pretty much closed for business. Once Galantas resume then the spread will go back to it's normal range and the SP will move up solely because of that - of course a long way shy of where we need it to be but I think either a sale or JV funding is on the cards rather than a dilution at these prices. In terms of taking the company private Roland only owns 15% of the shares so he does not have the weight to do it on his own - I personally don't believe that is on the agenda.
Just seen the rns.
Rns states recent progress on the major issue curtailing production has been made. Sounds like the crucial issue is heading in the right direction, obviously nothing is certain and risk of some kind of cheap deal for funding is undeniable but so is the recent sp movement in relation to the bad turn of events experienced. Meaning imo, good value to be had buying down here.
Been trying a dummy 100k share buy with barc - been going nt for last 10mins. Doesnt seem to be a large supply of shares at the mo.
Btw was offered just >1.4p to sell (just checking/no intent) same amount no probs.
AIMO GLA
My opinion. This was the moment he could have told us where our gold sales had gone, answered the critics and given us a plan. Instead with have another display of total incompetence by Roland Phelps, single handed driving this company into oblivion so that some private vulture friends do a takeover leaving shareholders with sweet fanny adams. Phelps still keeping his vast salary? Will the gold still end up being mined, but as a private company ?
I have also added over the last few days Dave and will continue to do so - the opportunity seems too good at these prices. Worst case scenario is a JV that funds the company and puts more cash in the bank than probably the current mCAP - best case the whole lot is sold for multiples of £5m - certainly worth a few more.
The issue with the PSNI will be resolved at some point and will be seen as a blip on the horizon.
...buying in just now, had to do limit order. Aim to add further, especially on significant drops, if they occur, seems unlikely to me tho.
GLA
Thanks for that LK505 - only one question - why enter from that side? To get entry from there means the chaps have climbed a fence - no logic in it to be honest if the gates are open and no need to walk all the way around.
And the redundant machinery and cars - come on please behave - I agree the housekeeping is not the best but I am sure you remember this was an open cast site for many years - and miners do not scrap equipment that may have useful spares - even that 1990's nice red piece of kit in your opening sequence.
For a redundant mine we also see the pumps running in your opening few seconds - why would you pump water from a redundant site? So come on lets be honest and open up to whom you are..
By the way I walked into a tin mine last week quite easily all the way the to the mining area - you may also find you can do the same to the largest salt mine in England.
As I have said previously, an issue with mining i have no problems with, an issue with site security I have no problems with, but your absolute rubbish that may damage peoples lives I do have an issue with - so please come forward and put some debate on the subject to find the real issues.
By the way have you done a FOI request on the Dalradian debt or on the Galantas issues with PSNI - no I thought not. But if you have then put your findings on here and I will compare it to mine. Let us let the facts decide in place of misleading information - that is a challenge to you.
FFS. Dead already. Only a sale can help us now.
A 2nd video has just been released....
https://www.facebook.com/watch/?v=483189145620995
Let us all pray for this company. It is clearly in great trouble. Before you go to bed tonight, forgive all mistakes; cast no blame-- just send kind thoughts of good will and support to Roland and all those working to save the company.
I continue to hold but looks like its dying. Cheers Roland.